Business
Arcadia Biosciences (RKDA) Announces Fourth-Quarter and Full-Year 2021 Financial Results and Business Highlights
– Strong balance sheet entering 2022 – – Expanded consumer product offerings in on-trend categories – – Experienced CPG talent added throughout organization –
About this update from Arcadia Biosciences, Inc.
[{"type":"text","content":"– Strong balance sheet entering 2022 –\n– Expanded consumer product offerings in on-trend categories –\n– Experienced CPG talent added throughout organization –\nDAVIS, Calif., March 30, 2022 /PRNewswire/ -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative, plant-based health and wellness products, today released its financial and business results for the fourth quarter and full year of 2021.\n\n \n \n \n \n \n \n\n \n\"Arcadia had an unprecedented year of transition and entered consumer-focused categories for the first time\" said Stan Jacot, president and CEO of Arcadia Biosciences. \"The acquisitions from 2021 have positioned us to broaden our reach within the health and wellness sector, and there are significant opportunities to grow our business by accelerating the monetization of our GoodWheatTM portfolio, commercializing and scaling our food, beverage and body care consumer brands, and evaluating acquisition opportunities.\n\"In addition, we have made tremendous progress towards becoming a CPG-driven company and are well positioned to execute on our business strategy in 2022. Our strong leadership team has deep experience across many successful brands, and we have added new talent across the organization to further enhance our CPG expertise.\"\n2021 Key Operating and Business Highlights Arcadia Advances Progress for GoodWheat Launch. In the third and fourth quarters of 2021, Arcadia began preparing for a full-scale retail launch of five GoodWheat pasta SKUs in mid-2022, supported by a comprehensive, consumer-focused marketing campaign. Arcadia's pasta products utilize proprietary GoodWheat grain as the sole ingredient, providing 4X the fiber of traditional pasta and 9g of protein per serving without sacrificing taste. The company made meaningful progress preparing GoodWheat pasta products for entrée into the consumer retail channel, including developing and testing consumer-preferred packaging. Arcadia Acquires Portfolio of Beverage and Body Care Brands from The Parent Company. In Q2 of 2021, Arcadia acquired select assets of Lief and Zola®, including their portfolio of wellness brands from The Parent Company. The acquisition included popular consumer brands like Zola, a leading coconut water sourced exclusively with sustainably grown coconuts from Thailand; ProVaultTM, a CBD-infused sports...